Wednesday, September 17, 2014

Sony Financial Woes Increase As Mobile Department Fails to Sell

Sony has shifted its financial outlook further into the red due to extraneous costs in its mobile phone department. Originally only looking at $50 billion lose at the end of the fiscal year (March 31st, 2015), the company is now looking at a lose closer to $230 billion. The major increase in debt comes from a one time "impairment charge" of $180 billion incurred by the mobile division. Due to such a high loss, Sony is now shifting its strategy in the mobile market, focusing on premium hardware and less in the middle price range. via Sony